The Americans successfully used the different tactic guerilla warfare against the staid and rigid British soldiers. War caused a large increase in the paper money supply - the Continental - triggering hyperinflation and loss of purchasing power.
The private property method of settlement was more successful than the public method. But, moving people to the new world was difficult while life in Europe was better. Thus, indentured servants were a large group second only to religious refugees.
Salutary neglect of the colonies spurred innovation and abundance in a spirit of freedom. Bitterness crept into the relationship after the French and Indian War when the British kept colonialists out of certain territories and began taxing them internally and increased tariffs.
International trade routes revealed comparative advantages of the different shippers, whether New England or British. Merchants dealt with shippers with whom they had a history. Knowing market conditions was easier for local merchants. Crews were paid less in their home ports.
The taxation approach taken by Senate Democrats is a purely foolish method of funding regulations that are themselves horrible.
The World Economic Conference of 1933 met to deal with America's Great Depression, but, without consulting anyone, FDR declared that the U.S. would not agree to the proposal because he wanted to take the U.S. off the gold standard in order to inflate the dollar. The gold-supporting British and French were horrified; Nazi Germany was delighted.
The Industrial Revolution and the development of the modern banking system were the two big things that happened in the Eighteenth Century in Britain. Why does the boom-bust cycle emerge? Is the cycle just a natural part of industry, or is it caused by the banking system?
Rothbard explains why he is optimistic. The norm of civilization has been despotism and statism. The quantum quality change in history has been the Industrial Revolution from mid-18th Century to mid-19th. Only the free market, libertarian society can expand this viable and moral industrialism.
Republican policy has always been high tariffs, keeping foreign goods out. But, then the US would lend those countries money to be able to pay for our higher-priced exports. This peculiar foreign-lending scheme included farm goods. Until 1928 there was an enormous foreign lending boom. The stock market collapsed in October 1929.
The state must invest in human beings the same way you invest in cattle on a farm. This progressive corporatist view was behind the creation of the Rockefeller Foundation. Industrial solutions were to be strictly scientific, e.g. minimum wage laws, public works, and government concentration camps (CCC).
